Metals of Africa announces maiden Graphite Resource at Balama Central

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THE DRILL SERGEANT: Metals of Africa (ASX: MTA) released a Maiden JORC 2012 Mineral Resource estimate for the company’s Balama Central graphite project, located in the Cabo Delgado graphite province in Mozambique, East Africa.

The project consists of two known occurrences of graphite mineralisation, namely the Lennox and Byron prospects.

Total resource has been calculated at:

16.3 million tonnes at 10.4 per cent total graphitic carbon (TGC) and 0.21 per cent vanadium oxide (V2O5) for 1.7 million tonnes of graphite; and – 34,000 tonnes of V2O5 (at a 6% TGC cut-off).

The Mineral Resource comprises:

An Indicated JORC Mineral Resource of 8.9 million tonnes at 9.3 per cent TGC and 0.16 per cent V2O5 for 836,000 tonnes of graphite and 14,000 tonnes V2O5; and

An Inferred JORC Mineral Resource of 7.3 million tonnes at 11.8 per cent TGC and 0.27 per cent V2O5 for 863,000 tonnes TGC and 20,000 tonnes V2O5.

“Based on a modest but effective four week drill program that was completed using only one drill rig, we have achieved our objective of delineating an attractive high-grade Mineral Resource capable of allowing us to progress to a Pre-feasibility Study based on a mine life of at least 10 years,” Metals of Africa managing director Cherie Leeden said in the company’s announcement to the Australian Securities Exchange.

“The endowment of high-quality graphite within the Cabo Delgado province is further illustrated with our results.

“We believe that this province in Mozambique will be responsible for delivering some of the lowest graphite OPEX outcomes in the world, a factor that we consider is what most end users are focused on.

“Our flake size and quality is exceptional and both our Balama Central and Montepuez deposits clearly boast the best ratio of large and jumbo flake of all graphite deposits in Mozambique.

“Large and jumbo flake sells for a premium and gives us optionality with respect to many end users.”

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Website: www.metalsofafrica.com.au